How the price action of Discovery Communications (DISCA) is used to our Advantage

March 08, 2022, 22:30 pm ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Discovery Communications (NASDAQ: DISCA) data table below can help you with price action, and we have more details too. Trading plans for DISCA are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for DISCA

• Buy DISCA slightly over 19.65 target 28.59 stop loss @ 19.59 Details

The technical summary data tells us to buy DISCA near 19.65 with an upside target of 28.59. This data also tells us to set a stop loss @ 19.59 to protect against excessive loss in case the stock begins to move against the trade. 19.65 is the first level of support below 25.27 , and by rule, any test of support is a buy signal. In this case, support 19.65 is being tested, a buy signal would exist.

• Short DISCA under 28.59, target 19.65, stop loss @ 28.67 Details

The technical summary data is suggesting a short of DISCA as it gets near 28.59 with a downside target of 19.65. We should have a stop loss in place at 28.67though. 28.59 is the first level of resistance above 25.27, and by rule, any test of resistance is a short signal. In this case, if resistance 28.59 is being tested, a short signal would exist.

Swing Trading Plans for DISCA

• Buy DISCA slightly over 25.60, target 27.86, Stop Loss @ 25.53 Details

If 25.60 begins to break higher, the technical summary data tells us to buy DISCA just slightly over 25.60, with an upside target of 27.86. The data also tells us to set a stop loss @ 25.53 in case the stock turns against the trade. 25.60 is the first level of resistance above 25.27, and by rule, any break above resistance is a buy signal. In this case, 25.60, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DISCA near 25.60, target 19.65, Stop Loss @ 25.67. Details

The technical summary data is suggesting a short of DISCA if it tests 25.60 with a downside target of 19.65. We should have a stop loss in place at 25.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 25.60, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for DISCA

• Buy DISCA slightly over 25.60, target 26.89, Stop Loss @ 25.54 Details

If 25.60 begins to break higher, the technical summary data tells us to buy DISCA just slightly over 25.60, with an upside target of 26.89. The data also tells us to set a stop loss @ 25.54 in case the stock turns against the trade. 25.60 is the first level of resistance above 25.27, and by rule, any break above resistance is a buy signal. In this case, 25.60, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short DISCA near 25.60, target 25.18, Stop Loss @ 25.66. Details

The technical summary data is suggesting a short of DISCA if it tests 25.60 with a downside target of 25.18. We should have a stop loss in place at 25.66 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 25.60, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

DISCA Ratings for March 08:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	13.61
P2	25.18	25.60	19.65
P3	26.89	27.86	28.59

Support and Resistance Plot Chart for DISCA

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